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Nov 27, 2012
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greece will also get billions in additional debt relief. this is the latest effort to help greece stabilize its ailing economy. however, austerity measures are also part of the bailout package. >>> more than 100,000 people packed cairo's tahrir square chanting against egypt's president who they say wants to become a dictator. [ chanting ] >> police are fighting back demonstrators with tear gas. so far at least one person is dead and almost 400 injured as a result of the violence. >>> forensic teams in the west bank city of ramallah have exhumed the body of yasser arafat. a big blue tarp surrounded his grave as workers drilled through layers of concrete to reach the tomb. a murder investigation began last summer after a swiss lab found high levels of a deadly radioactive substance on arafat's clothing. now investigators have taken samples from his remains to determine if he was in fact poisoned. >>> heavy rains are flooding the uk. take a look. people were forced from their homes as streets turned into rivers in wales and england. crews resc
greece will also get billions in additional debt relief. this is the latest effort to help greece stabilize its ailing economy. however, austerity measures are also part of the bailout package. >>> more than 100,000 people packed cairo's tahrir square chanting against egypt's president who they say wants to become a dictator. [ chanting ] >> police are fighting back demonstrators with tear gas. so far at least one person is dead and almost 400 injured as a result of the violence....
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Nov 21, 2012
11/12
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european be officials failed to reach a deal on giving greece more aid. financial leaders had differences over how long greece should be given to reduce its debt. they need to agree on the issue before greece to receive its next bailout loan. >> asian markets shook off the news and headed higher as the yen hit a seven month low. nikkei add 1% to finish at a two month low while the hang seng gained 1%. federal reserve chairman ben bernanke is pushing for a compromise on the fiscal cliff. in a speech tuesday he said if president obama and congress can resolve the crisis unemployment would go down and the economy would grow. falling oil prices and an announcement that hewlett packard is taking a $9 billion write down. the dow lost just over seven points while the nasdaq was mostly unchanged. shares of home builders rallied on news that home construction jumped in october to a four year high. construction of apartment buildings was especially strong up 10%. and it looks like hostess's twinkie is cooked. the snack maker failed to reach mediation session. on mo
european be officials failed to reach a deal on giving greece more aid. financial leaders had differences over how long greece should be given to reduce its debt. they need to agree on the issue before greece to receive its next bailout loan. >> asian markets shook off the news and headed higher as the yen hit a seven month low. nikkei add 1% to finish at a two month low while the hang seng gained 1%. federal reserve chairman ben bernanke is pushing for a compromise on the fiscal cliff....
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Nov 12, 2012
11/12
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worries about greece sent most asian markets falling this morning. tokyo's nikkei closed at 1% but the hong kong hang seng added a quarter percent. this morning wall street will try controversy from the worst week since june. the dow lost 277 points while the nasdaq was down 77 points. investors are concerned about negotiations to avoid the so-called fiscal cliff. the nation's airlines may soon need a lot more pilots. the "wall street journal" is reporting carriers are bracing for a wave of retirement as pilots are reaching the mandatory retirement age of 65. the other problem facing the airlines is higher experience requirements for new hires. target plans to join other major retailers in moving black friday to thanksgiving night. the chain says it will open its doors to holiday shoppers at 9:00 thanksgiving night. that's three hours earlier than last year. and speaking of thanksgiving, a traditional holiday dinner will cost you a little bit more this year. the american farm bureau says shoppers can expect to pay $49.48 to feed ten people. that's up
worries about greece sent most asian markets falling this morning. tokyo's nikkei closed at 1% but the hong kong hang seng added a quarter percent. this morning wall street will try controversy from the worst week since june. the dow lost 277 points while the nasdaq was down 77 points. investors are concerned about negotiations to avoid the so-called fiscal cliff. the nation's airlines may soon need a lot more pilots. the "wall street journal" is reporting carriers are bracing for a...
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Nov 27, 2012
11/12
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the news in greece boosted stocks in asia this morning. tokyo's nikkei added more than a quarter percent, hitting a seven-month closing high, while hong kong's hang seng lost a fraction. >>> blue chips fell on wall street. the dow started the week down 42 points while the nasdaq was up just under ten. >>> charitable giving in this country continues to increase. last year, individuals made $217 billion in charitable donations, according to indiana university. that's a $6 billion increase from the previous year. but experts say superstorm sandy, uncertainty about the so called fiscal cliff, and the election will affect how much americans give to charity the final month this year. >>> and nintendo's wii-u console is flying off the shelves. the company says it sold more than 400,000 in just the first week. it sells for about $300 and nintendo says sales are comparable to the original wii when it was first released six years ago. i'm pretty sure that's on jack morison's christmas list. >> hopefully santa will hook him up. i just hope that folks
the news in greece boosted stocks in asia this morning. tokyo's nikkei added more than a quarter percent, hitting a seven-month closing high, while hong kong's hang seng lost a fraction. >>> blue chips fell on wall street. the dow started the week down 42 points while the nasdaq was up just under ten. >>> charitable giving in this country continues to increase. last year, individuals made $217 billion in charitable donations, according to indiana university. that's a $6...
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Nov 13, 2012
11/12
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. >>> greece won more time to recover from its debt crisis. european finance ministers meeting in belgium on monday gave greece until 2016 to implement debt reduction targets. the bailout package cost $305 billion, a $40 billion immediate aid package was delayed as finance ministers hash out how greece is to make it debt sustainable in the long-term. >>> that uncertainty shook asian markets this morning. tokyo's nikkei fell for the seventh straight session, its longest losing run in seven months, while the hang seng dropped more than 1%. trading on wall street was flat as investors grow concerned about the so called fiscal cliff. both the dow jones and the nasdaq were mostly unchanged, each losing a fraction of a point. >>> big changes at microsoft, the president of windows and windows live operations left the company after 23 years. his departure comes less than three weeks after microsoft launched windows 8. the company did not say why he was leaving. >>> and hostess is closing three bakeries following a strike of unionized bakers that began
. >>> greece won more time to recover from its debt crisis. european finance ministers meeting in belgium on monday gave greece until 2016 to implement debt reduction targets. the bailout package cost $305 billion, a $40 billion immediate aid package was delayed as finance ministers hash out how greece is to make it debt sustainable in the long-term. >>> that uncertainty shook asian markets this morning. tokyo's nikkei fell for the seventh straight session, its longest losing...
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Nov 6, 2012
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and greece braces for violent protests. ashley morison in new york with more. good morning. >> overseas trading was light ahead of u.s. election results. tokyo's nikkei lost a quarter percent. the hang seng dropped a quarter percent. wall street is also waiting to see who wins a presidential election. investors are reluctant to make any big moves without knowing the winner. on monday, the nasdaq add 17. some analysts say no matter who wins, the markets could see a surge. >>> two days of general strikes begin today in greece. the country's unions are protesting a new austerity plan that imposes wage and benefit cuts. the strike will ground flights, halt trains, close schools, and staff hospitals with minimal workers. lawmakers are set to vote on the austerity package tomorrow. >>> suzuki will no longer sell cars in the united states. the japanese auto maker filed for bankruptcy on monday. the debt and liabilities range from at least $100 million to up to $500 million. as part of its restructuring plan, suzuki will stop its car and suv sales in the u.s. but conti
and greece braces for violent protests. ashley morison in new york with more. good morning. >> overseas trading was light ahead of u.s. election results. tokyo's nikkei lost a quarter percent. the hang seng dropped a quarter percent. wall street is also waiting to see who wins a presidential election. investors are reluctant to make any big moves without knowing the winner. on monday, the nasdaq add 17. some analysts say no matter who wins, the markets could see a surge. >>> two...
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Nov 7, 2012
11/12
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you're looking at riots in greece. greece has been a big issue all the way across. we're also hearing problems that germany's economy is getting worse. germany is the economic driver in europe. this is a big deal here in america. a lot of large tech companies like cisco, oracle and hewlett- packard. they depend on sales in europe. they have seen their profits get squeezed by falling sales over there. if that continues we'll see that problem continue here in this country. let's look at the big board right now. lots of heavy selling on wall street today. dow down 265 points. nasdaq down by 65. s&p lower by 28. apple is worth noting today down 3.5% and at about $560 a share is now 20% lower than its all-time high it hit over $700 in september. that is officially correction territory for apple. >> a perfect storm not just the election? >> it's all together. i don't think anybody was surprised that we could see a sell-off after the election when attention turns back to the economy and europe. >> thank you, jason brooks with kcbs and cbsmoneywatch.com. >>> for president o
you're looking at riots in greece. greece has been a big issue all the way across. we're also hearing problems that germany's economy is getting worse. germany is the economic driver in europe. this is a big deal here in america. a lot of large tech companies like cisco, oracle and hewlett- packard. they depend on sales in europe. they have seen their profits get squeezed by falling sales over there. if that continues we'll see that problem continue here in this country. let's look at the big...
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Nov 13, 2012
11/12
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opening low this morning amd concern over greec >>> the big board was rebounding after an opening low the morning amid concerns over greece, european leaders postponed $40 billion to the country and it desperately needs that. the dow dipped back though in the negative territory just moments ago. it is down 16 points and heading south as we speak. >>> if you're still dieing to get your hands on facebook stock; you will get another chance tomorrow. hundreds of millions of facebook shares could hit the market wednesday. that's when early investors and employees will get a chance to sell those shares that were part of the lockup that restricted their sale for a certain period of time following the initial offering. the lockups are meant to help boost stock price by keeping stock supply scarce. really hasn't worked though. facebook shares have lost nearly half their value since the ipo a few months back at $38 a share. >>> meanwhile, the iphone 5 just hit the market a lot of people happy about that. but there's already talk now that apple is working on a newer version. according to a chine
opening low this morning amd concern over greec >>> the big board was rebounding after an opening low the morning amid concerns over greece, european leaders postponed $40 billion to the country and it desperately needs that. the dow dipped back though in the negative territory just moments ago. it is down 16 points and heading south as we speak. >>> if you're still dieing to get your hands on facebook stock; you will get another chance tomorrow. hundreds of millions of...
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Nov 14, 2012
11/12
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protests are also planned in italy, greece, france and belgium. asian stocks got a lift after greece had a sale of short term treasury bills on tuesday. tokyo's nikkei broke a seven day losing streak while the hang seng gained 1%. investors jitters over the fiscal cliff in the u.s. and economic turmoil in europe sent wall street lower. the dow closed down at 58 points while the nasdaq fell 20 points. millions of shares of facebook could be looking for an investor to friend them on the stock market today. a lockup period on stock issued to the social networking company's first employees and investors ends today. now they can unload the stock that has lost nearly half of its value since facebook's ipo in may when shares opened at $38. and look for some extra traffic this thanksgiving if you're driving to spend the holidays with friends and family. aaa predicts slightly more americans will take to the nation's highways this year but those turkey day travellers say they won't be going as far so they can save on gas as household budgets remain tight. y
protests are also planned in italy, greece, france and belgium. asian stocks got a lift after greece had a sale of short term treasury bills on tuesday. tokyo's nikkei broke a seven day losing streak while the hang seng gained 1%. investors jitters over the fiscal cliff in the u.s. and economic turmoil in europe sent wall street lower. the dow closed down at 58 points while the nasdaq fell 20 points. millions of shares of facebook could be looking for an investor to friend them on the stock...
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Nov 12, 2012
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. >>> concerns over greece sent most asian markets lowering this morning. and wall street is trying to recover from the worst week since june on friday. greece passed an austerity budget that's crucial to it avoiding bankruptcy. it calls for severe spending cuts and tax increases. >>> a recent report shows carriers are bracing for what's expected to be a wave of retirement as many reach retirement age and experience requirements are prevents new hires. >>> it is shopping season now. seems like black friday might be a thing of the past. >> that's right. this seems to be the going trend here. target is also going to open at 9:00 on thanksgiving night, three hours earlier than last year. like a lot of other sears like target and wal-mart, they will offer deals for early shoppers. i think black friday is becoming extinct. >> just open up thanksgiving day day. >> i'd rather shop than cook any day. >> i know who does the cooking in your house. >> yeah, not me. >>> how about weather on a monday? >> i think it's a great idea. work off the turkey dinner by shopping,
. >>> concerns over greece sent most asian markets lowering this morning. and wall street is trying to recover from the worst week since june on friday. greece passed an austerity budget that's crucial to it avoiding bankruptcy. it calls for severe spending cuts and tax increases. >>> a recent report shows carriers are bracing for what's expected to be a wave of retirement as many reach retirement age and experience requirements are prevents new hires. >>> it is...
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Nov 21, 2012
11/12
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european union officials failed to reach a deal on giving greece more aid. financial leaders had differences over how long greece should be given to reduce its debt. they need to agree before greece can receive its next bailout loan. >>> it looks like hostess' twinkie is cooked. the snack maker failed to reach an agreement with the bakers union in a private mediation session yesterday. on monday a bankruptcy judge asked the two sides to meet before hostess continued its liquidation process. it was a last-ditch effort to save the struggling company and more than 18,000 jobs. with no agreement in place, the judge will decide today if the maker of ho ho's, dingdongs and wonder bread can shut down its operation. other companies are reportedly interested in buying some of hostess' more popular brands. >>> and guys, i had a great surprise yesterday. i found in the back of my cup barred some hostess coming up cakes! >> you're an addict, aren't you? >> i am. [ laughter ] yes. i hid them, too. just so now. [ laughter ] >> if you have some twinkies, i understand there
european union officials failed to reach a deal on giving greece more aid. financial leaders had differences over how long greece should be given to reduce its debt. they need to agree before greece can receive its next bailout loan. >>> it looks like hostess' twinkie is cooked. the snack maker failed to reach an agreement with the bakers union in a private mediation session yesterday. on monday a bankruptcy judge asked the two sides to meet before hostess continued its liquidation...
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Nov 12, 2012
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stocks opened higher on some positive economic data from china and news that greece passed its 2013 budget and right now it's reflecting that, it's up about 12 points and change today. >>> nation's airlines may soon need a lot more pilots. a recent report shows carriers are bracing for what's expected to be a big waver of retirements. many senior pilots are close to reaching the mandatory retirement age at 65. the other big problem facing the airlines is a high level of experience requirements now for the new hires. >>> target plans to join other major retailers in moving black friday to thanksgiving evening now. the chain says it will open its doors christmas holiday shoppers at 9:00 right after your turkey on thanksgiving night. that's three hours earlier than last year. unlike other stores, sears, wal- mart, target will offer several deals for all you early shoppers. >>> cupertino-based apple has reached a settlement to end one major battle in the smartphone wars. the company filed a lawsuit against htc. the companies announced saturday they've agreed on a deal that includes a 10-year l
stocks opened higher on some positive economic data from china and news that greece passed its 2013 budget and right now it's reflecting that, it's up about 12 points and change today. >>> nation's airlines may soon need a lot more pilots. a recent report shows carriers are bracing for what's expected to be a big waver of retirements. many senior pilots are close to reaching the mandatory retirement age at 65. the other big problem facing the airlines is a high level of experience...
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Nov 26, 2012
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you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes. >> i would be very much opposed to raising tax rates. but i do believe we can close a lot of loopholes. >> reporter: and democrats say just closing loopholes and cutting deductions isn't enough. >> you've got to raise additional revenues, including tax rates on the wealthy. >> those have to go up? >> they have to go up. >> reporter: in any deal, republicans insist on big cuts to entitlement programs like medicare and social security. now taxes are getting all the attention right now but these talks also need to address the federal debt limit. it's set by law at $16.4 trillion. the nation is already approaching the national debt of $16.3 trillion. nobody wants a repeat of that summer standoff we went through last year. >> certainly so. susan mcginness in washington this morning, thank you so much. >>> while washington is worried about the fiscal cliff it appears the average
you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes. >> i would be very much opposed to raising tax rates. but i do believe we can close a lot of loopholes. >> reporter: and democrats say just closing loopholes and cutting deductions isn't enough. >> you've got to raise additional revenues, including tax...
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Nov 27, 2012
11/12
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greece's by a massive 4.5%. the report predicts the gdp of the eurozone as a whole will shrink by 4%, but it says germany is unlikely to fall into recession thanks to robust demand on the domestic market. >> to the markets now and the greek rescue package encouraged investors this tuesday. our correspondent sent us this update from the frankfurt stock exchange. >> the stock market's, nobody really thought that the euro group would send greece into bankruptcy, but in the end, investors, of course, appreciated this new rescue package for athens. it gives time to breathe, as people were saying here, and it has set a better mood here in the share market, especially banking shares have been on the recommended lists so far. investors are saying that banks take profits out of this rescue package if the politics are able to stabilize the political environment. this also helps the financial community. >> and a quick look at the market numbers now -- the dax closed 0.5% up. euro stoxx 50 closing just slightly up. across t
greece's by a massive 4.5%. the report predicts the gdp of the eurozone as a whole will shrink by 4%, but it says germany is unlikely to fall into recession thanks to robust demand on the domestic market. >> to the markets now and the greek rescue package encouraged investors this tuesday. our correspondent sent us this update from the frankfurt stock exchange. >> the stock market's, nobody really thought that the euro group would send greece into bankruptcy, but in the end,...
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didn't that there would be a solution for greece on monday greece on the other hand for the first time says you know it's not our folds this is our creditors they have to figure it out for the first time in the two years two naf years that greece has been the bailout program is not greece that's causing the trouble. you heard or just a few billion dollars left we'll see if they can resolve that on their conference call tomorrow machinist of us with dow jones in the wall street journal. before we go this friday let's wrap up with viewer feedback because we got overwhelmingly interesting feedback on a topic we discussed on wednesday we contrasted wal-mart reportedly paying workers very little scrimping on benefits and as you know they protested today we compare that to costco which is another big box retailer which is known to treat employees pretty well and here is what you had to say on facebook joshua fabby on said my first job was at wal-mart and i hated that job the pay was bad the managers were rude and the customers just hated you i now work at costco and i love my job the pay is
didn't that there would be a solution for greece on monday greece on the other hand for the first time says you know it's not our folds this is our creditors they have to figure it out for the first time in the two years two naf years that greece has been the bailout program is not greece that's causing the trouble. you heard or just a few billion dollars left we'll see if they can resolve that on their conference call tomorrow machinist of us with dow jones in the wall street journal. before...
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period of time to be fixating on greece because greece is dramatic by and large i don't think it does anyone any favors yeah and speaking of the muddling through speaking grueling nature of all of this especially with greece what is the deal with this deal to get who are the major parties that need to be consulted negotiated with in order to make changes to greece's cumulative interest payments on the national debt well i mean listen this is a massively multilateral negotiation it is extremely tough i covered the greek debt restructuring earlier this year and i thought that was a tough negotiation because it involved private sector creditors banks as well as had fun that involved all the countries in the euro zone of all the international monetary fund the european central bank and honestly i think that even removing the private sector from the picture those guys can make it pretty tough for themselves just by just by themselves right now what we're looking at is this we had a meeting here in brussels last tuesday feels like years ago but but also it feels like yesterday because this
period of time to be fixating on greece because greece is dramatic by and large i don't think it does anyone any favors yeah and speaking of the muddling through speaking grueling nature of all of this especially with greece what is the deal with this deal to get who are the major parties that need to be consulted negotiated with in order to make changes to greece's cumulative interest payments on the national debt well i mean listen this is a massively multilateral negotiation it is extremely...
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Nov 26, 2012
11/12
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concerns over europe, waning consumer confidence in germany and a continuing debate about what to do about greece. a look at the numbers, the dow is losing 69 points, nasdaq is falling by 2, the s&p is down by 6. >> frank and michelle back to you. jason brooks. >>> a look on what's later on cbs this morning. >> charlie rose joins us from new york in the big chair. good morning charlie. >> good morning frank and michelle. flights are delayed more often than amount others and we'll show you which five and how to avoid. and hollywood's biggest icon in need of aphis lift, a look at the massive facelift, that and more when we see you at 7. >> we have flight delays here at sfo, so. >> a lot of fog. >> have a good morning. thanks. >> speaking of fog, let's kick it over to brian to find out how long it's going to be stocked in here. >> another 120 minutes, frank. we're going to be looking at visibilities fairly low but not as much fog and clouds as we had yesterday. we have a dense fog alert posted until 9:00 this morning right through the central valley. visibility less than a quarter mile. concord 41 d
concerns over europe, waning consumer confidence in germany and a continuing debate about what to do about greece. a look at the numbers, the dow is losing 69 points, nasdaq is falling by 2, the s&p is down by 6. >> frank and michelle back to you. jason brooks. >>> a look on what's later on cbs this morning. >> charlie rose joins us from new york in the big chair. good morning charlie. >> good morning frank and michelle. flights are delayed more often than amount...
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actually forgive some of their debt to greece if they force greece out if this gets contentious and greece decides not to pay them i think we will see if we you know capital flee out of spain and italy if greece can go if greece can exit and it's disorderly i think immediately people take a look at their businesses in spain their deposits in spain and he plans to do business in spain or italy and say you know what let's hold on. yeah you know it's interesting i did see one one fact from sam b.c. actually that over seventy percent of greece's debts are now owed to official lenders such as the e.c.b. and the i.m.f. so that's a significant chunk that you're saying they need to forgive some of that now as far as italy and spain you had an interesting point you're writing about corporations having revolving credit lines and how it's a bad sign from a credit perspective when they draw down on it but they have them for safety in case they can't get cash so what's the importance of revolving credit in europe and are those policies in place you know there are and i think that's one thing right now
actually forgive some of their debt to greece if they force greece out if this gets contentious and greece decides not to pay them i think we will see if we you know capital flee out of spain and italy if greece can go if greece can exit and it's disorderly i think immediately people take a look at their businesses in spain their deposits in spain and he plans to do business in spain or italy and say you know what let's hold on. yeah you know it's interesting i did see one one fact from sam...
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Nov 14, 2012
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. >> reporter: asian stocks got a lift after greece held a sale of short term treasury bills tuesday. the tokyo's nikkei broke a seven-day losing streak hong kong's hang seng gained 1%. >>> bad news on wall street yesterday. the dow was down nearly 59 cushioned by a surge in home depot stock while the nasdaq was down 20. >>> millions of shares of facebook could be looking for an investor to friend them on the stock market. a lockup period on stock issued to the company's first employees and investors ends today. now they can unload the stock that's lost nearly half of its value since facebook's ipo in may when its stock was offered at $38 a share. i think we are going to see a lot of defriending going on. >> are you a big texter? >> reporter: oh, yeah. a big texter and yeah, i guess they are saying it's going out of style. i can't believe that. one analyst says people are texting less. for the first time in history the number of monthly texts has dropped on average people send 675 texts a month compared to 700 earlier this year but it's not that they are communicating less. instead of
. >> reporter: asian stocks got a lift after greece held a sale of short term treasury bills tuesday. the tokyo's nikkei broke a seven-day losing streak hong kong's hang seng gained 1%. >>> bad news on wall street yesterday. the dow was down nearly 59 cushioned by a surge in home depot stock while the nasdaq was down 20. >>> millions of shares of facebook could be looking for an investor to friend them on the stock market. a lockup period on stock issued to the company's...
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Nov 14, 2012
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and lks like greece is in a heap of mess itself. is this finally the end of the line for greece? >> i don't think so that it's the end of the line for greece but i think none of the problems have really been solved. the basic problem now th the greeks are now entering their sixth year of a serious recession. this is really more le a depression. their gdp is down 20%. melissa: wow. >> from 2009. unemployment among youth is nearing 60%. and they just cuttheir budget more. what's the real dispute here? the real dispute isbout two things. one is, what's the way out of this mess? the creditors really want more and more cutbacks in return for which they will basically lend greece the money to payhemselves back. melissa: yeah. >> what the imf would really like to see is, there are real losses here. there are real losses. creditors have lent money that is essentially bad. just like in a bankruptcy sometimes the lenders have to take a haircut. and what the imf would like to do is for the lenders to take a haircut but those lenders are the sovereign countries of europe and their politician
and lks like greece is in a heap of mess itself. is this finally the end of the line for greece? >> i don't think so that it's the end of the line for greece but i think none of the problems have really been solved. the basic problem now th the greeks are now entering their sixth year of a serious recession. this is really more le a depression. their gdp is down 20%. melissa: wow. >> from 2009. unemployment among youth is nearing 60%. and they just cuttheir budget more. what's the...
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Nov 14, 2012
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agreed to that -- the imf and greece agreed to that. when they wanted another couple of years, she saw red, really. she rolled her eyes and does not want to book any more delays because there's been years of indecision, as they see it at the imf. >> briefly, that's not the only dispute you had in brussels. also something to do with the eu budget, a problem there. >> it is very complicated. basically, they want 6.8% in budget spending next year. ministers say 2.79% and not a penny more. tonight, europe -- euro mp's had decided not to take part. on all economic fronts, europe is in crisis. >> a lot to watch their. thanks very much for the update. >> let's move to the markets now. investors did not have much to celebrate this tuesday. our correspondence sent us this report from the frankfurt stock exchange. >> the discussion in brussels about greece weighed on the general mood of the markets, even though there was a bit of a recovery towards the end of the trading day, but investors remain concerned about greece and about the way that the
agreed to that -- the imf and greece agreed to that. when they wanted another couple of years, she saw red, really. she rolled her eyes and does not want to book any more delays because there's been years of indecision, as they see it at the imf. >> briefly, that's not the only dispute you had in brussels. also something to do with the eu budget, a problem there. >> it is very complicated. basically, they want 6.8% in budget spending next year. ministers say 2.79% and not a penny...
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cash for greece. in exchange for. on air online live from the new center here in moscow this is a nationwide protests have kicked off in egypt with thousands gathering in tahrir square to oppose president morsi latest decree morsi made himself and the islamist dominated upper house of parliament immune to any kind of oversight including from the courts true reports from. behind me there's several hundred thousand people into korea and it protests that people are saying one of the largest they've seen really in most of the year and people are chanting against the muslim brotherhood and people a chance against this very contentious constitutional declaration which awarded the president's sweeping powers we've also seen protests across the country in different governorates against this constitution constitution that peroration as well as different sectors of society we had protests at a march today by the journalist in the case who had joined us in korea in addition judges themselves states in protest and lawyers so real
cash for greece. in exchange for. on air online live from the new center here in moscow this is a nationwide protests have kicked off in egypt with thousands gathering in tahrir square to oppose president morsi latest decree morsi made himself and the islamist dominated upper house of parliament immune to any kind of oversight including from the courts true reports from. behind me there's several hundred thousand people into korea and it protests that people are saying one of the largest...
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and and some eurozone finance ministers really are going getting pretty fed up with greece and would rather cut them loose. i think there are a considerable number of people who would like to cut greece loose at this juncture a because it's probably the most humane thing to do but second of all because ultimately the greek government has simply field to do anything that it has really be supposed to do in terms of privatization and so on and many times it's an act of legislation but feel to follow through the taxation system in greece is broken all of these sorts of horrible things lead us to the fact that greece is governed in a third world fashion at the moment not in the first world fashion and that all to me is causing a huge amount of frustration with a great many e.u. finance ministers some of whom because they've got lots of money such as say germany at all and and so on some of them because they've actually taken their medicine the poor irish twenty thousand people on the streets of dublin at the weekend complaining about the austerity medicine they've had to take a nod they'r
and and some eurozone finance ministers really are going getting pretty fed up with greece and would rather cut them loose. i think there are a considerable number of people who would like to cut greece loose at this juncture a because it's probably the most humane thing to do but second of all because ultimately the greek government has simply field to do anything that it has really be supposed to do in terms of privatization and so on and many times it's an act of legislation but feel to...
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germany will be giving more financial aid towards greece we saw m.p.'s voting with four hundred seventy three saying yes to this a package one hundred saying no and eleven abstentions now what this does mean no and it's been talked about throughout the week is. next year alone it could cost germany over seven hundred million euros but we are seeing the politicians at least giving their support financial support towards greece however that support isn't being particularly backed up by some of the electorate here people on the streets of germany suggesting that perhaps greece should be left to its own devices. that is enough because we won't see this money ever again. at some point it should be stopped it's high time they were capable of helping themselves we're ok for now but someday we could also go to broke their silence spec north like not out to vote this is all you should be on and look we've already given at least so much more on the issues started already a lot going on on hunger started. and there's nothing more it's made and i don't think that w
germany will be giving more financial aid towards greece we saw m.p.'s voting with four hundred seventy three saying yes to this a package one hundred saying no and eleven abstentions now what this does mean no and it's been talked about throughout the week is. next year alone it could cost germany over seven hundred million euros but we are seeing the politicians at least giving their support financial support towards greece however that support isn't being particularly backed up by some of...
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Nov 14, 2012
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asian stocks got a lift overnight after greece held a sale of short term treasury bills on tuesday. the nikkei added a fraction breaking a seven-day losing streak white hong kong's hang seng gained 1%. >>> a better-than-expected earnings report from sis so. the blue chip stock is rallying as much as 7% after cisco beat analyst estimates. the company saw a pickup in orders from large u.s. businesses that has been giving stocks a little bump on wall street. let's see how we're doing. the dow is up by 10 points. the nasdaq is climbing 15. >>> and millions of shares of facebook could be looking for an investor to friend them on the stock market today. a lockup period on stock issued to the social networking company's first employees and investors ends today. now they can unload the stock that's lost nearly half of its value since facebook's ipo in may when its stock was offered at $38 a share. we'll see a lot of defriending going on. >> i think you're right. hey, earlier this morning, you admitted to us that you are a big texter. >> reporter: yes, i am. and some people are saying it's g
asian stocks got a lift overnight after greece held a sale of short term treasury bills on tuesday. the nikkei added a fraction breaking a seven-day losing streak white hong kong's hang seng gained 1%. >>> a better-than-expected earnings report from sis so. the blue chip stock is rallying as much as 7% after cisco beat analyst estimates. the company saw a pickup in orders from large u.s. businesses that has been giving stocks a little bump on wall street. let's see how we're doing. the...
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Nov 27, 2012
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the problem for greece is that greece in the euro appears to be uncompetitive. you either come out of the euro, and you have big significant drop in the value of your currency so everything that you do, no one would seem there is much change in import costs, but suddenly everything in greece is more than competitive. but if you stay, instead of the currency dropping 0%, every person's salary has dropped 30%. so this gets much, much harder. >> it's clear the internal devaluation is much more difficult, but also that it has been happening in greece. p what's your take on this? ich heard t i've heard the argument about the internal devaluation which is extremely difficult and results in the break down of the social cohesion. p are they making enough progress in your view, will they continue to make enough progress in your view to come out of it more competitive? >> obviously the pressures start at once, so things do get more competitive, but that's another way of saying things are getting really unpleasant. a better analogy really is ireland is where the process is
the problem for greece is that greece in the euro appears to be uncompetitive. you either come out of the euro, and you have big significant drop in the value of your currency so everything that you do, no one would seem there is much change in import costs, but suddenly everything in greece is more than competitive. but if you stay, instead of the currency dropping 0%, every person's salary has dropped 30%. so this gets much, much harder. >> it's clear the internal devaluation is much...
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Nov 27, 2012
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shoppers were focused on holiday shopping deals, in europe, finding a deal to release emergency aid for greece remains elusive. euro-zone finance ministers and the international monetary fund tried for a third time today to reach a deal with greece. the hitch is further austerity measures, and another potential hair-cut for investors who lent money to greece. on wall street it was a mixed session. the dow fell 42 points, but the nasdaq rose almost ten points, while the s&p fell three. >> susie: a changing of the
shoppers were focused on holiday shopping deals, in europe, finding a deal to release emergency aid for greece remains elusive. euro-zone finance ministers and the international monetary fund tried for a third time today to reach a deal with greece. the hitch is further austerity measures, and another potential hair-cut for investors who lent money to greece. on wall street it was a mixed session. the dow fell 42 points, but the nasdaq rose almost ten points, while the s&p fell three....
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Nov 5, 2012
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. >> topping the list, the election, superstorm sandy and the financial crisis in greece. ashley morrison is with us this morning from cbsmoneywatch.com. good morning. >> reporter: good morning to you, frank and michelle. investors overseas waited on the sidelines ahead of the u.s. presidential election. in asia tokyo's nikkei dipped half a percent this morning while hong kong's hang seng also lost half a percent. many investors are also staying on the sidelines on wall street this morning ahead of the u.s. presidential election. tomorrow everybody just waiting to see the outcome before making any big trading moves. let's head down to wall street where as you can see, the dow has been bouncing back and forth now down by 35 points. the nasdaq is also in lower territory. we're in positive territory a few minutes ago but just down by 2 so far this morning. >>> while sandy is shaping up to be the second costliest storm in u.s. history, the price of rebuilding could actually boost the economy. some economists say we might see a lift in the first months of 2013 as construction w
. >> topping the list, the election, superstorm sandy and the financial crisis in greece. ashley morrison is with us this morning from cbsmoneywatch.com. good morning. >> reporter: good morning to you, frank and michelle. investors overseas waited on the sidelines ahead of the u.s. presidential election. in asia tokyo's nikkei dipped half a percent this morning while hong kong's hang seng also lost half a percent. many investors are also staying on the sidelines on wall street this...
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greece deserves that. the greek people deserve that. they made tremendous efforts. >> they want parliament to pass another painful round of cuts and reforms. >> the greek government says it could happen as early as this friday. >> of portugal, and german and shiller -- german chancellor merkel says the portuguese austerity measures have been painful but that it will lead to a better future. there will not need to renegotiate the terms of their current program but most citizens were not welcoming her with open arms. portuguese protesters had a clear message for the german chancellor. the crowd clearly blaming her for their rhetoric -- their misery. the chancellor adopted aconfron. at p cre she sang in the praismi r co the prospects have a tads a portugueseal heitopthmct governments has reached new hehe t than merkel's ur a reasonable.they' d "she is jcalling on the fur witg povert sawth pougseusri meare e torspondence ch d eadod tonvinc >>he sd e ihe tsee hecoeae ld hbout t presanofraase t cotr ion tck bau ty th he tsean leit t dl eoeope
greece deserves that. the greek people deserve that. they made tremendous efforts. >> they want parliament to pass another painful round of cuts and reforms. >> the greek government says it could happen as early as this friday. >> of portugal, and german and shiller -- german chancellor merkel says the portuguese austerity measures have been painful but that it will lead to a better future. there will not need to renegotiate the terms of their current program but most citizens...
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Nov 26, 2012
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she once the interest rate deductions for greece. she wants governments to take a debt write-off and germany will not tolerate that. she wants to greece to reach 120% of g.d.p. debt by 2020. the eurozone system make about 2022. >> just following the debt talks in brussels, thank you. a completely different story on the consumer front with the german export still going strong worldwide. people are entering the christmas buying season ready to spend. >> that according to the latest research showing retail sales could top those of the last few years. >> it's official. the christmas season is open in germany. the country's retailers are looking ahead confidently to the next four weeks. market research indicates people intent to buy more than in recent years. toys and books are expected to be the biggest sellers, but more expensive items should be popular, too. >> it is noticeable that spending on jewelry and home furnishings will be stronger than usual. it is connected to the crisis. when consumers have a decision to make on how to use t
she once the interest rate deductions for greece. she wants governments to take a debt write-off and germany will not tolerate that. she wants to greece to reach 120% of g.d.p. debt by 2020. the eurozone system make about 2022. >> just following the debt talks in brussels, thank you. a completely different story on the consumer front with the german export still going strong worldwide. people are entering the christmas buying season ready to spend. >> that according to the latest...
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against it you want greece out of the euro zone out of the european union. didn't understand your question to me why you are against it do you want greece to be kicked out of the eurozone out of the european union where. you go. quite convinced that you have. the chance to develop in a proper way within the euro which is a strong currency their competitiveness is very weak. making a lot of efforts to. better it to make it better but. quite sure that won't work within the euro zone so it would be. to. be a good for. those who are bailing out now and those who try to fade out be bailed out to make a new start your stance is very different to the leader of your party angela merkel and she was playing hardball with greece to begin with but now she seems to be softening in her stance. such a policy with bailing out you know where you're coming. slope down here. you start giving money into that. it's not enough you say oh i have that much. already in it i can stop it now but quite sure that that won't work because the fundamental data our terms of economics are ag
against it you want greece out of the euro zone out of the european union. didn't understand your question to me why you are against it do you want greece to be kicked out of the eurozone out of the european union where. you go. quite convinced that you have. the chance to develop in a proper way within the euro which is a strong currency their competitiveness is very weak. making a lot of efforts to. better it to make it better but. quite sure that won't work within the euro zone so it would...
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however, if we're talking about getting greece back on its feet, it involves finding a way to help greece's economy actually return to growth. while some of the terms of the deals were a little more favorable than many had feared, at the end of the day, you have to find a way to help these economies grow. that probably means pausing some of that austerity. >> susie: you talk about it being a favorable deal, and you picture that other troubled companies in europe are saying, i want a deal just like greece got. what does that mean for the european economic recovery? >> i think it certainly complicates things a little bit. there is clearly an issue of moral hazard. many other countries may look to the deal that greece got and say, hey, maybe i can get a similar-type deal. in the end, when we think about what is plaguing personal europe, a lot of it has to do with austerity which has been forced on the economies, which are really, really depressed, and pushes them deeper into the hole. part of what needs to be done moving forward is pausing some of that austerity. you can't go to a country in a
however, if we're talking about getting greece back on its feet, it involves finding a way to help greece's economy actually return to growth. while some of the terms of the deals were a little more favorable than many had feared, at the end of the day, you have to find a way to help these economies grow. that probably means pausing some of that austerity. >> susie: you talk about it being a favorable deal, and you picture that other troubled companies in europe are saying, i want a deal...
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then, we turn to greece's financial crisis. paul solman offers an inside look at the negotiations to tackle the debt problems. >> as both knowledgeable outsiders and insiders attest, the tug-of-war between europe's borrowers and lenders continues and probably will, for years. >> sreenivasan: many americans are headed to the mall tonight after finishing thanksgiving dinner. we examine how black friday has morphed into gray thursday. jeffrey brown has another thanksgiving day story about a turn of the century photographer who documented the lives of native americans. >> he ended up being the largest traffic odyssey in american history. he ended up doing 2,200 pages of text telling life stories, diets habits, sex lives. it's documentaries of lives and nations and people and one man did it all. >> sreenivasan: and we close with an encore look at a story about china's moves to satisfy a growing demand for meat. that's all ahead on tonight's "newshour." major funding for the pbs newshour has been provided by: and with the ongoing sup
then, we turn to greece's financial crisis. paul solman offers an inside look at the negotiations to tackle the debt problems. >> as both knowledgeable outsiders and insiders attest, the tug-of-war between europe's borrowers and lenders continues and probably will, for years. >> sreenivasan: many americans are headed to the mall tonight after finishing thanksgiving dinner. we examine how black friday has morphed into gray thursday. jeffrey brown has another thanksgiving day story...
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and your surge of protests in greece turned violent as the country's parliament backs a new round of stinging spending cuts. a once in a decade pollard transfer kicks off in china as president hears in the towel and voice of the current leadership prepared to step down to lead young leaders to develop the country's call on a me. plus the bickering over the budget britain's david cameron and german chancellor angela merkel failed to agree on e.u. spending plans join talks in london. you're watching r g a live from moscow with me to say first anger and violence have spilled over onto the streets of athens with police using tear gas and water cannon against greece protesting draconian new budget cuts demonstrators hold petrol bombs with more than one hundred detained as the country's parliament passed an austerity package and at securing the latest bailout archies paid all of our reports from the greek capital. what we have seen though is anger on the streets of athens we saw a crowd of around one hundred thousand people gather in the square just behind me in front of of the parliament
and your surge of protests in greece turned violent as the country's parliament backs a new round of stinging spending cuts. a once in a decade pollard transfer kicks off in china as president hears in the towel and voice of the current leadership prepared to step down to lead young leaders to develop the country's call on a me. plus the bickering over the budget britain's david cameron and german chancellor angela merkel failed to agree on e.u. spending plans join talks in london. you're...